Bullish continuation pattern in GBPJPY
The ascending triangle pattern is a bullish continuation pattern in GBPJPY. There are 2 ways to trade this pattern.
1) Aggressive method (Long GBPJPY on breakout)
Place a buy stop order on breakout above 173.50
SL 173.00
TP 175.00
2) Conservative method (wait for retracement)
After GBPJPY breakout decisively above 173.50, wait for any pullback to 173.50.
Place a buy limit order 173.50
SL 173.00
TP 175.00
The ascending triangle pattern is a bullish continuation pattern in GBPJPY. There are 2 ways to trade this pattern.
1) Aggressive method (Long GBPJPY on breakout)
Place a buy stop order on breakout above 173.50
SL 173.00
TP 175.00
2) Conservative method (wait for retracement)
After GBPJPY breakout decisively above 173.50, wait for any pullback to 173.50.
Place a buy limit order 173.50
SL 173.00
TP 175.00
